Charles Schwab Investment Management Inc. Acquires 12,154 Shares of Central Garden & Pet Company $CENT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet Company by 8.8%, owning 150,427 shares valued at approximately $5.5 million as of the latest SEC filing.
• Central Garden & Pet reported earnings of $1.56 per share for the last quarter, surpassing analysts' expectations, although revenue fell by 3.6% year-over-year.
• Insider John D. Walker III sold 3,500 shares of Central Garden & Pet stock, decreasing their ownership by 4.94%, with shares sold at an average price of $32.59.

Charles Schwab Investment Management Inc. grew its position in Central Garden & Pet Company (NASDAQ:CENT - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,427 shares of the company's stock after purchasing an additional 12,154 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.23% of Central Garden & Pet worth $5,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ABC Arbitrage SA acquired a new stake in Central Garden & Pet during the first quarter worth approximately $528,000. XTX Topco Ltd acquired a new stake in Central Garden & Pet during the first quarter worth approximately $550,000. Banque Cantonale Vaudoise acquired a new stake in Central Garden & Pet during the first quarter worth approximately $33,000. Royce & Associates LP lifted its stake in Central Garden & Pet by 17.0% during the first quarter. Royce & Associates LP now owns 41,128 shares of the company's stock worth $1,508,000 after purchasing an additional 5,978 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Central Garden & Pet by 13.7% in the 1st quarter. New York State Common Retirement Fund now owns 2,820 shares of the company's stock valued at $103,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 16.13% of the company's stock.

Insider Buying and Selling at Central Garden & Pet

In related news, insider John D. Walker III sold 3,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the transaction, the insider directly owned 67,328 shares of the company's stock, valued at $2,194,219.52. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Ranelli sold 3,076 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company's stock, valued at approximately $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.19% of the stock is owned by company insiders.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT traded up $0.48 during mid-day trading on Monday, hitting $36.43. 64,658 shares of the stock traded hands, compared to its average volume of 67,015. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. Central Garden & Pet Company has a twelve month low of $31.97 and a twelve month high of $43.88. The company has a market cap of $2.29 billion, a PE ratio of 16.56 and a beta of 0.69. The firm has a 50 day simple moving average of $37.29 and a two-hundred day simple moving average of $36.22.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $960.91 million for the quarter, compared to the consensus estimate of $993.66 million. During the same quarter last year, the business posted $1.19 EPS. Central Garden & Pet's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Central Garden & Pet Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.